Sheela Tobben, Bloomberg 11:01 pm CST, Monday, January 7, 2019 A hydraulic fracturing crew at a WildHorse Resource Development oil well near Caldwell. CONTINUE to see more photos from the Eagle Ford shale. A hydraulic fracturing crew at a WildHorse Resource Development oil well near Caldwell. CONTINUE to see more photos from the Eagle Ford shale. Photo: Michael Ciaglo, Houston Chronicle / Staff Photographer Photo: Michael Ciaglo, Houston Chronicle / Staff Photographer Image 1 of / 9 Caption Close Image 1 of 9 A hydraulic fracturing crew at a WildHorse Resource Development oil well near Caldwell. CONTINUE to see more photos from the Eagle Ford shale. A hydraulic fracturing crew at a WildHorse Resource Development oil well near Caldwell. CONTINUE to see more photos from the … [Read more...] about Oil growth to stall in the other Texas shale patch in 2019
West texas intermediate
Fed says Texas job growth will take hit if the oil rout drags on
Rachel Adams-Heard, Bloomberg Published 5:00 am CST, Friday, December 28, 2018 Job growth in Texas would slow if oil prices remain low, according to the Federal Reserve Bank of Dallas. Job growth in Texas would slow if oil prices remain low, according to the Federal Reserve Bank of Dallas. Photo: Susana Gonzalez / Bloomberg Photo: Susana Gonzalez / Bloomberg Image 1 of / 1 Caption Close Image 1 of 1 Job growth in Texas would slow if oil prices remain low, according to the Federal Reserve Bank of Dallas. Job growth in Texas would slow if oil prices remain low, according to the Federal Reserve Bank of Dallas. Photo: Susana Gonzalez / Bloomberg Fed says Texas job growth will take hit if the oil rout drags on … [Read more...] about Fed says Texas job growth will take hit if the oil rout drags on
U.S. oil prices inch up, but global economic concerns weigh
SINGAPORE (Reuters) - U.S. oil prices edged up on Monday amid a fall in drilling activity in the United States, but lingering concerns about weaker economic growth in major economies kept a lid on gains. A gas station worker pumps fuel into a motorbike at a gas station of the Venezuelan state-owned oil company PDVSA in Caracas, Venezuela November 2, 2018. REUTERS/Marco Bello U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.35 per barrel at 0010 GMT, up 0.3 percent, or 15 cents, from their last settlement. International Brent crude oil futures LCOc1 had yet to trade. “Despite OPEC and Russia agreeing to reduce oil production by a further 1.2 million barrels per day at the recent OPEC meeting, prices have fallen as the market awaits evidence that the cuts will balance the market,” ANZ Bank said on Monday. “Even a fall in the rig count couldn’t dispel these concerns.” U.S. drillers cut four oil rigs in the week to Dec. 14, … [Read more...] about U.S. oil prices inch up, but global economic concerns weigh
Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting
Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October. U.S. West Texas Intermediate (WTI) crude futures were at $52.66 per barrel at 0140 GMT, down 23 cents, or 0.4 percent, from their last close. International Brent crude oil futures were down 7 cents, or 0.1 percent, at $61.49 per barrel. Traders said oil prices were being weighed down by weak global financial markets, which saw stock markets tumble on Thursday. Since early October, crude oil has lost around 30 percent of its value amid surging supply and fears that an economic downturn will erode fuel demand. The Organisation of the Petroleum Exporting Countries (OPEC) is meeting at its headquarters in Vienna, Austria, on Thursday to decide its production policy. Led by Saudi Arabia, OPEC's crude oil production has risen by 4.1 percent … [Read more...] about Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting
North Dakota oil production still on a high in October
A cold-weather slowdown in North Dakota oil production is expected, but it didn't start in October. Both oil and natural gas production set records again in October, North Dakota officials said Friday, although the growth was slower than in the summer months. Crude production was 1.39 million barrels a day in October, up from 1.36 million in September. While the number of wells and rigs both have risen some, Lynn Helms, director of North Dakota's Department of Mineral Resources, said he still believes producers will pull back over the winter months because of economics. First, producers did not store enough natural gas over the summer to meet demand in November because of earlier cold weather this year, he said. Now the storage needs are where they should be. Second, the industry is "really getting mixed signals" on oil prices, which continue to fall, he said. The West Texas Intermediate (WTI) price, standard for U.S. measures of the industry, has fallen from a four-year high in … [Read more...] about North Dakota oil production still on a high in October